Customers will not have to purchase separate Compulsory Personal Accident (CPA) cover for each new vehicle they buy from January 1, IRDAI has said. Instead of a 'bundled' personal accident cover, vehicle owners can buy CPA cover separately. In September, the insurance regulator raised the minimum insurance cover for owner-driver to Rs.15 lakh for an annual premium of Rs.750.

In order to make health insurance more customer friendly, a working group set-up by the insurance regulator has recommended that diseases such as Alzheimer's, Parkinson's, AIDs/HIV acquired after the policy inception should not be be excluded. It has recommended that there should not be any permanent-exclusion in the policy wordings for any specific disease, whether it is degenerative, physiological or chronic in nature.